For many the industry isn’t getting better at solving their problems. Hopefully, at least for those finding themselves experiencing a long bout with unemployment, they will find a little relief coming from at least one of the GSEs Freddie Mac. In an announcement FHLMC stated that they would be extending their previous Forbearance plans...
Fannie Mae is always on the look out, like any servicer, for the best solutions that in the long run lose them the least amount of money. Commercial owners and owners of investment properties rarely see the benefits of these programs. Since October of 2009, a little more than a year ago this date,...
In an effort to help defaulting homeowners Wells Fargo is offering their own version of FHA’s Partial Claim Program. This version varies in several ways but is aimed at what Wells Fargo is referring to as a “Principal Forbearance”. Now this is not like the Principal Reductions everyone is speaking about these days or...
It’s no surprise with the loose lending that went on the government allowed unsupervised for so many years, enough to cause an economic crisis almost as bad as the great depression, that they be forced to come up with some sort of solution for it. After seemingly enslaving a large percentage of the homeowners strapped now to...
We here at Mortgage Lender Report (MLReport.com) due to the great response we have been receiving from the community have added an addition that we feel everyone will benefit from. We received hundreds of questions in our pursuit to keep the market up to date about the mortgage guidelines and problems that it seems...
Aurora Bank FSB, just stepping in to this crazy industry on its own two feet and out from under the umbrella of the now collapsed Lehman Brothers, has found that it is completely overwhelmed under the current weight of the market. What was once acceptable to complete with in certain time frames has not...
Formerly known as IndyMac Bank it was purchased by the Federal government at the beginning of the mortgage meltdown and some time later then sold and purchased by One West Bank, FSB to add a loan servicing department to their portfolio back in March. Besides the name changing to IndyMac Mortgage Services, IndyMac has...
Most of you might think from the blog title that this is going to be a conversation about how the homes location is really what gets a property sold. Well that is another post for another time. This post is about Mortgage Companies and how they are broken up into multiple locations and sometimes...